RONB vs SPY
Baron First Principles ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, RONB or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 77.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | RONB | SPY |
|---|---|---|
| Expense Ratio | 1.00% | 0.09%Best |
| AUM | - | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 25 | 505 |
| YTD Return | -3.44% | +13.81%Best |
| 1Y Return | - | +16.94% |
| 3Y Return (annualized) | - | +22.84% |
| 5Y Return (annualized) | - | +13.50% |
| Top 10 Weight | 77.0% | 37.8%Best |
| Fund Family | Baron Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Dec 12, 2025 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
RONB vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
RONB vs SPY Performance
Baron First Principles ETF (RONB) is an ETF from Baron Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Year to date, RONB is down 3.44% versus a gain of 13.81% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
RONB charges 1.00% per year while SPY charges 0.09%. On a $10,000 position that is $100 vs $9 annually, a gap of $91 per year that compounds over a long holding period. On income, RONB currently yields 0.00% against 0.98% for SPY.
Holdings Overlap
30.0% of RONB's money is in holdings SPY also owns. 2.2% of SPY's money is in holdings RONB also owns.
RONB and SPY share little of their money.
8 positions in common, counted across the 21 positions we hold weights for in RONB and 504 in SPY, against full books of 25 and 505.
What only one of them owns
Our book lists 489 positions for SPY that do not appear in our book for RONB (97.2% of the fund), and 10 for RONB that do not appear in SPY (59.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in RONB | Weight in SPY | Difference |
|---|---|---|---|
| TSLATesla Inc | 8.72% | 1.52% | 7.20% |
| SCHWSchwab Strategic T | 4.22% | 0.27% | 3.95% |
| MSCIM S C I Inc. | 4.43% | 0.06% | 4.37% |
| IBKRInteractive Brokers Group Inc | 3.74% | 0.06% | 3.68% |
| FDSFactset Research Systems Inc. | 2.91% | 0.02% | 2.89% |
| ABNBAirbnb Inc | 2.40% | 0.12% | 2.28% |
| ACGLArch Capital Group Ltd 5.450% | 1.81% | 0.05% | 1.76% |
| IDXXIdexx Labs | 1.75% | 0.07% | 1.68% |
30.0% of RONB is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, RONB or SPY?
RONB has an expense ratio of 1.00% while SPY charges 0.09%. SPY is the cheaper option, by $91 a year on a $10,000 investment.
What is the holdings overlap between RONB and SPY?
30.0% of RONB's money is in holdings SPY also owns. 2.2% of SPY's is in holdings RONB also owns. They hold 8 positions in common, counted across the 21 positions we hold weights for in RONB and 504 in SPY.
Which pays a higher dividend, RONB or SPY?
RONB yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than RONB?
SPY has a lower expense ratio. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 77.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.